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What You Should Know Before Renting Out Your Property

For many people, becoming a landlord is not always their first option. Sometimes, when the market is not in your favor or you are having a difficult time finding a buyer at the price you want, the option to rent out the property for a time until the market turns or you find someone who is interested starts to become more appealing. After all, having someone to pay for the mortgage will help you cut the vacancy costs. However, becoming a landlord is no small venture. Between having to draft up rental contracts and managing maintenance emergencies, being a landlord can easily become a part-time job. The Responsibilities of a Landlord When you rent out your property, you add many responsibilities to your plate. The following are examples of those: • Ensuring that your tenants pay you on time • Calling maintenance teams for issues with the appliances • Performing regular inspections of the rental property • Recording the profits on your taxes at the end of the year • Getting informed about legal issues regarding landlords and tenants There are many more tasks than we could possibly list here, but we hope that that have given you a better idea of what you should be ready for when you rent out your property. Is Selling Your Property the Better Option? If you had a guarantee that your property would sell, would you take it rather than bother with renters? At The Marshall, we guarantee that your home will sell within 86 days or we will buy it from you. That way, you can get the burden of trying... read more

How to Help Kids Understand Your Plan to Move

Some families move frequently from one location to another. While parents do their best to make the transition smooth, kids sometimes have a more difficult time adjusting. After getting used to their way of life, it can be tough to uproot them from the familiar surroundings of home.  Here are some pointers to help make the transition a little bit more kid-friendly:   Treat the move like a big family adventure.   If your children are young, you can narrate it like you are telling a story, when you break the news.  “Once upon a time…”  Nobody knows your kids better than you do, so model your story after one of their favorites. Keep the story light-hearted and interesting, especially if they’re too young to understand details. If you are moving a long distance, make the idea of travel exciting. Talk to them about the scenery and any special sites you might see along the way.   Focus on the positive new things that will be available to your kids in the new location. Perhaps there is a park, swimming pool, or recreation center nearby.  Plan a special day trip to celebrate the completion of your move.  Schedule the event at least a week or two after your move-in date.  This will give everyone something to look forward to, and a break from unpacking. Build a moderate level of anticipation, but never resort to lying or make a promise you may not be able to keep.   Relieve their anxieties about new friends and schools.   Encourage your kids to talk about the upcoming move. This will give you... read more

Are You a First Time Home Buyer? Avoid These Common Pitfalls

Thinking about owning a home?  Great idea. Or is it? Just the thought can cause a surge of excitement to run through your veins. On the other hand, the commitment required may be causing you sleepless nights; and rightfully so.   Home ownership is an achievement that deserves to be welcomed with open arms. The question is, are you ready for the commitment?   First- timers are often victimized by their own lack of understanding about the process. Given that this is a large financial decision to make, intense preparation is key. So before you sign up for the challenge; do your homework, and take a good look at these common pitfalls:     Financial Readiness   Your credit report reflects your readiness to move on to the next chapter of your life: homeownership. Obtaining a copy of your credit report, before you even start your hunt, is a basic rule. It allows you the opportunity to repair any existing problems and ensure that your score is high enough to meet the lender’s criteria.   Meanwhile you need to know how much you qualify to borrow and what your monthly mortgage payments will be. A minimum down-payment will be required, as well as other charges that apply when the transaction is closed. Make sure you’re left with enough cash on hand to cover unexpected expenses. In any case, consult with an expert to determine if you are really ready commit to the process.   Professional Consultation   When you act on a decision half-heartedly, you may end up being easily distracted and lack the drive necessary to find the... read more